Law Offices of Todd M. Garber Announces Investigation of Edwards
Lifesciences Corporation
Business Wire
LOS ANGELES -- September 27, 2013
The Law Offices of Todd M. Garber announces that it is investigating potential
claims on behalf of investors of Edwards Lifesciences Corporation (“Edwards
Lifesciences” or the “Company”) (NYSE:EW), concerning possible violations of
federal securities laws. The investigation focuses on certain statements
issued by the Company between April 25, 2012 and April 23, 2013.
Edwards Lifesciences is a medical device maker that designs and markets, among
other things, artificial heart valves for implantation in patients with
advanced cardiovascular disease. The Company offers a range of such valves,
including both valves that require traditional open-chest surgery, and its
newer SAPIEN line of transcatheter heart valves (“THVs”), which may be
implanted using a minimally invasive procedure.
The investigation is related to allegations that the Company issued false
and/or misleading statements and failed to disclose material facts related to
the prospects, projected sales and adoption of the Company’s Edwards SAPIEN
transcatheter aortic heart valve, including the related transfemoral and
transapical delivery methods (“SAPIEN”), and related projections of financial
performance for the Company’s operations.
On April 23, 2013, the Company disclosed that approximately 20 candidate
hospitals had postponed SAPIEN training, that there was substantially no
backlog of patients awaiting SAPIEN implants, and that the Company’s financial
results had been and would likely continue to be weaker than estimates. In
response to this news, Edwards Lifesciences’ stock price fell $18.21 per
share, or 21.99 percent, to close at $64.60 per share on April 24, 2013 on
extremely heavy trading volume.
If you purchased Edwards Lifesciences common stock during the foregoing
period, if you have information or would like to learn more, or if you have
any questions concerning this announcement or your rights or interests with
respect to these matters, please contact Todd M. Garber, Esquire, of the Law
Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to
info@toddgarberlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contact:
Todd M. Garber, Attorney at Law
Los Angeles, California
213-700-7262
info@toddgarberlaw.com